Credit Card Funding
You want to start a business that makes traffic cones. It’s a high-growth business in Chicago, particularly during the summer season of road construction. However, you can’t get a private equity backer. And a bank won’t just give you a loan.
So, what do you do?
You might start putting all your costs on a credit card to get your business off the ground. Credit card funding is the common practice of putting cash into a new account. Many banks will allow people to use credit cards even though the associated cash advancements will require interest rate charges.
Many investors are also allowed to use credit cards to fund trading accounts. This is popular in Forex trading. However, financial regulators have banned the use of credit card funding on certain speculative markets, including cryptocurrency trading, in recent years.
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Finance: What is the Equal Credit Opport...6 Views
Finance a la shmoop what is the Equal Credit Opportunity Act? alright people while the
federal government thinks everyone should have the equal opportunity to get [Men in Federal Government appear]
into debt isn't that sweet of them you know that Uncle Sam well he sure does
have a heart of gold this federal law makes it illegal to discriminate against
people who are applying for financing on pretty much anything legal based on
their age gender marital status religious affiliation ethnic or national
background or public assistance benefits your credit score however well that
still matters sorry just keeping it real
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